The following input-requirements data are for Country A, a capital-abundant country that produces nothing but bread and wine using only capital and labor as inputs. According to the H-O theory, Country A has a comparative advantage in the production of 1 Pound of Bread1 Gallon of WineCapital Input5 units20 unitsLabor Input4 units10 units
A. wine.
B. both bread and wine.
C. bread.
D. neither bread nor wine.
Answer: A
Economics
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Misty has the option of purchasing one of three products: Brand A, Brand B, or Brand C. Each costs ten dollars. If she decides that Brand A meets her needs best, then the opportunity cost of this decision is
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The unit of value function of money refers to how we think about and record a transaction, whereas the means of payment function refers to how we actually pay for the items
a. True b. False
Economics